Penn Entertainment bought the rest of digital sports media platform Barstool while Overstock helped agricultural payment technology provider GrainChain raise $29m.

Young Asian woman using devices for fitness in park

M&A

Gambling and gaming group Penn Entertainment paid $388m for the remaining 64% of US-based online sports media platform Barstool Sports it did not own, three years after investing $163m for a 36% stake. At the time of the 2020 deal, investment adviser The Chernin Group held a 36% stake with the rest of Barstool was owned by its founders and employees.

Market data aggregator Quodd acquired Xignite, a US-based developer of application programming interfaces for financial market data, for an undisclosed sum enabling media group Nikkei to exit. Nikkei subsidiary Quick Corporation led a $20.5m series C round in 2016 that lifted Xignite’s total funding to $37m.

Public markets

Cover, a Japan-based virtual YouTuber management service backed by digital media company Gree, marketing firm Hakuhodo DY and animation studio OLM, has received approved to list on the Tokyo Stock Exchange’s TSE Growth Market on March 27. The offering is expected to value the company at roughly $320m.

Funding

US-based blockchain-equipped agricultural payment service GrainChain has raised $29m from investors including furniture retailer Overstock. The round also featured Pelion Venture Partners, Brigham Young University’s BYU Cougar Capital unit and unnamed other investors.

Company Company description Sector Country Round Round size($m) Deal date Investors
ChargerHelp Maintenance service provider for electric vehicle charging stations Transport US A 17.5 17/02/2023 Exelon Corporation; Blue Bear Capital (lead), Aligned Climate Capital, Energy Impact Partners
Alp Provider of subscription management platform Scalebase Services Japan A 13.9 (updated) 20/02/2023 Uzabase (UB Ventures), Mitsubishi UFJ (Mitsubishi UFJ Capital), Yamaguchi Financial Group (Yamaguchi Capital), Globis (Globis Capital Partners), GMO (GMO VenturePartners), Dentsu (Dentsu Ventures); DNX Ventures
Mediotec Virtual solar power plant operator Energy and Natural Resources Japan B 12.7 20/02/2023 Kansai Electric Power; Energy & Environment Investment
Stuf Crowdsourced physical storage service Services US A 11 17/02/2023 Allegion (Allegion Ventures) (co-lead); Altos Ventures (co-lead), Wilshire Lane Capital, Harlem Capital, Palm Tree Crew, Good Friends, Anim Fund
Quell Fitness gaming system developer Media UK A 10 20/02/2023 Tencent (lead); Khosla Ventures, Heartcore Capital, Social Impact Capital, Naval Ravikant
Transcelestial Wireless laser communication technology provider Telecoms Singapore A 10 17/02/2023 Airbus (Airbus Ventures) (lead), Globe Telecom (Kickstart Ventures); Genesis Alternative Ventures, Wavemaker, Defence Science and Technology Agency (Cap Vista), Seeds Capital, In-Q-Tel
Selfapy Digital mental health therapeutics provider Healthcare Germany N/A 7.5 17/02/2023 Medice Arzneimittel (lead), SHS Group; High-Tech Grunderfonds, Think.Health Ventures, Investitionsbank Berlin (IBB Ventures)
Unagi Web3 video game publisher Media France Seed 5 17/02/2023 United Overseas Bank (UOB Ventures); Sisu Game Ventures (lead), Sfermion, Signum Capital, 2B Ventures, Machame
Nefta Enterprise Web3 services management platform IT UK Seed 5 17/02/2023 Polygon (Polygon Ventures), MZ (MZ Web3); Play Ventures (lead), SevenX Ventures, Sfermion, Picus Capital
MCBI Blood-based test developer for cognitive impairment risk Healthcare Japan N/A 3.4 20/02/2023 Kaga Electronics, Green Core
Previa Medical AI-equipped predictive healthcare technology developer Healthcare France Seed 2.2 16/02/2023 Hopla Memory; BPIfrance, CCI Capital Croissance, Veymont Participations, M2care, Holding Seraip, BNP Paribas
Robit Provider of manufacturing site automation technology Industrial Japan N/A N/A 20/02/2023 Tsumura
Vegetech Fresh produce distribution platform Consumer Japan N/A N/A 20/02/2023 Air Water, Delica Foods
Edison Fu

Edison Fu is head of Asia development at Global Corporate Venturing.